Last year my wife and I decided we would prefer to live in separate houses after many years of living together. We sold the family home and shared the proceeds equally. She bought a house in her sole name with her money. I bought a house in my sole name with my money. We pay all the bills for our respective houses independently.
We don't regard ourselves as "separated" in the common usage of the term because we have no intention of divorcing. Neither of us has stayed the night in the other's house, though we visit each other often because we bought houses that are only 15 minutes walk apart. Neither house is let or used as a holiday home as they are occupied full time.
My question is what is the CGT situation when one of us decides to sell his/her home and buy another?
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